WHITE PINE UNDER FOREST MANAGEMENT. 31 
Protection and Administration. 
Protection and administration may involve a slight annual outlay, 
though in States which employ an efficient patrol during the fire 
season that for the former may be so small as to be scarcely a factor 
in timber raising. Administration provides for time spent in looking 
over the property. In Table 12 an annual administrative and pro- 
tective cost of 5 cents per acre is compounded at 4 and 6 per cent 
interest for 10-year periods up to the age of 70 years. 
Taxes. 
Tax assessments on timberlands are commonly based on rough 
appraisals in which the land and the timber are not considered sepa- 
rately. 1 The tax rate varies considerably, but a common one in 
the pine regions of New England is $2 per $100 on a two-thirds 
valuation. In computing the accumulated tax per acre for this 
bulletin land and timber were assumed to be valued separately. 
Since the value of the land is a constant one of $5 per acre, the taxes 
are figured as an annuity. The increase in value of the growing 
timber is taxed on the basis of the stumpage values given in Table 11, 
which implies that the taxable value of the stumpage remains reason- 
ably constant for a 5-year period. The taxes accumulated for each 
period are carried at compound interest to the end of the rotation, 
when the total accumulations from all the periods represent the total 
accrued stumpage tax at a specified age. These amounts are shown 
in Table 13. The tax rate used is l'J per cent on full valuation, 
corresponding to 2\ per cent on a two-thirds valuation. This rate 
is slightly higher than the usual one, and together with the strict 
valuation imposed by Table 11 results in accumulated taxes probably 
in excess of the actual amounts. This was done to avoid the danger 
of underrating the total cost of growing the timber. With a lower 
tax rate the age at which the stand can be most profitably cut would 
be slightly extended and the profits increased. 
The relation between stumpage value, taxes, and other producing 
costs, and their effect on the length of the rotation, is shown in Table 
34, Appendix. 
1 Taxation of forest lands is discussed in a paper under this title by J. H. Foster (Biennial Report, 1907-8, 
Forestry Commission, State of New Hampshire, pp. 47-118), and also in a report of the Wisconsin State 
Board of Forestry in cooperation with the Forest Service, entitled "Taxation of Forest Lands in Wiscon- 
sin," by A. K. Chittenden and Harry Irion. 
